A&M Activist Alert for Europe | Forecast and Outlook for 2022
Why Europe is entering a new era of activist investing driven by ESG, larger targets and increasingly ambitious campaigns
A Golden Age for Activism
The 2021 AAA report forecasts what it describes as a "golden age" for shareholder activism in Europe. Having identified a growing number of companies at imminent risk of public campaigns, the report argues that improving corporate visibility and abundant activist capital will drive a significant increase in activity throughout 2022 and beyond. Seven themes underpin the outlook, including the rise of environmental and social activism, increasing focus on larger companies, longer investment holding periods and heightened attention on both UK and German corporates. The report also highlights the growing incidence of multiple activist campaigns targeting the same company from different angles, creating a more challenging environment for boards that must balance operational, strategic, governance and ESG priorities simultaneously. |
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Whilst we do not publicly release individual company predictions, we would be delighted to discuss specific AAA modelling and analysis for any particular corporate with a senior member of the company.
Arrange a personalised de-brief with the A&M team by contacting a member of our team in your local region.
The A&M Activist Alert (AAA) reports provide a comprehensive analysis of shareholder activism trends across Europe and the United States, offering insights into evolving market dynamics, activist strategies, and corporate responses.
In 2026 we launched the U.S. AAA report, our first Activist Alert publication with a U.S. perspective. This inaugural U.S. edition explores the rise in activism post-2024 elections, the role of M&A, and the concept of an Equity Story—a strategic narrative that aligns corporate performance with investor expectations.
Click here to access the AAA Report for the United States.
